Hormuz tensions rattle miners
Australian miners have continued to weigh on the local exchange after developments in the Persian Gulf sent jitters through equities markets.
A Qatari LNG gas container ship in the Strait of Hormuz caught on fire after being hit by a projectile, testing the fragile truce between the US and Iran.
The S&P/ASX200 fell 27.1 points on Tuesday, down 0.31% to 8,803.9, as the broader All Ordinaries lost 32.3 points, or 0.36%, to 9,004.7.
The raw materials sector extended an early loss to more than 2.6% by the close after the attack put upward pressure on oil prices. It also reignited fears for the global growth outlook.
Banks and tech buffer the losses
Banks and IT stocks helped counterbalance some of the losses, as the financials and technology segments advanced more than one per cent each.
The Australian dollar is buying 69.42 US cents, up from 69.28 US cents on Monday at 5pm.
